Nashville, Tenn.-based Vanderbilt University Medical Center reported higher revenue and operating income in the first quarter of its fiscal 2019 than in the same period of the year prior, according to recently released bondholder documents.
Here are five things to know about the hospital's financial results:
1. VUMC reported operating revenues of $1.06 billion in the three months ended Sept. 30, up from $1.01 billion in the same period a year earlier. The boost was largely attributable to higher net patient service revenue, which climbed 5.7 percent year over year.
2. VUMC's operating expenses increased 5.9 percent year over year to $1.04 billion in the three months ended Sept. 30.
3. VUMC ended the three-month period with operating income of $26.8 million, up from $26.6 million in the three months ended Sept. 30, 2017.
4. VUMC said operating results in the first quarter of fiscal year 2019 "were consistent with the prior year, signaling stabilization following the November 2017 EMR system implementation."
5. The EMR implementation contributed to higher expenses and reduced operating income in fiscal year 2018.
More articles on healthcare finance:
ER physicians at 3 Pennsylvania hospitals work weeks without pay
Ascension's operating income triples as its footprint expands
Oklahoma hospital to close in 2019